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Drake & Scull International PJSC (DSI), a leader in integrated design, engineering, and development, announced its Q1 2024 financial results. The company reported a gross profit of AED 1.3 million, up from AED 1.1 million in Q1 2023. Revenue was AED 31 million, a significant increase from AED 20 million in the same period the previous year. However, the company recorded a net loss of AED 46 million, an improvement from a net loss of AED 119 million in Q1 2023. The loss was attributed to a net financing cost of AED 39 million, which is expected to be reversed upon successful completion of a restructuring process. DSI's group backlog was AED 589 million, driven by ongoing operations in overseas countries. The company's CFO announced that a restructuring process is underway and a new IPO subscription for existing shareholders has begun, with the new funds to be used in improving operational efficiency and winning new projects.

The document is an unaudited interim condensed consolidated financial statement of Drake and Scull International PJSC and its subsidiaries, as of 31st March 2024. This report is primarily intended for individuals with an interest in finance and investing.

Resolution No. (400) of 2024 has temporarily suspended trading of Aram Group shares on the ADX, as per article No. (16) of the Regulations. The suspension is due to a coinciding Aram Group Board of Directors meeting scheduled for 11:00 on 14-May-2024. Trading will be suspended from 09:00 on 14-May-2024 until the ADX receives the meeting results. All department heads at ADX are instructed to execute this resolution in their respective fields. The resolution will be circulated to the SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and issued on 09/05/2024.